Petrobras Contracts $5B Revolving Credit Line

Source: www.gulfoilandgas.com 12/16/2021, Location: South America

Petrobras informs that it signed, a revolving credit facility (RCF) in the amount of US$ 5 billion, maturing in December 2026, with the possibility of being extended in up to two years.

The agreement, signed with 16 banks, allows the company to draw on the line until the month before maturity, and will be used to replace the US$ 4.35 billion revolving credit facility contracted in 2018, which was due to mature in March 2023 and was cancelled on the current date.

The transaction creates an additional alternative source of funds for the company to use according to its needs. As a result, Petrobras will be able to use its cash more efficiently, maintaining access to liquidity without incurring load costs.

The banks that participated in this operation were:
- Joint Bookrunners : Bank of America, Bank of China, BNP Paribas, Citibank, Credit Agricole, JPMorgan Chase Bank, Mizuho, MUFG, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia;
- Mandated Lead Arrangers: HSBC, Banco Santander;
- Lead Managers: Morgan Stanley;
- Participants: Deutsche Bank, ICBC, Bank of Baroda.

The operation is in line with the company's liability management strategy, aiming at improving the debt amortization profile and reducing costs, considering the gross debt target foreseen in its 2022-2026 Strategic Plan.


Bermuda >>  7/1/2022 - DHT Holdings, Inc. has during the second quarter purchased 2,826,771 of its own shares — equivalent to 1.7% of its outstanding shares — at an average ...
Canada >>  7/1/2022 - Osisko Development Corp. announces that, as part of the Company’s annual compensation review, the Board of Directors has authorized the grant of an ag...

Greece >>  7/1/2022 - Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that it has entered into an agreement ...
Iraq >>  7/1/2022 - Based on the initial statistics of the Iraqi Oil Marketing Company (SOMO), the Ministry of Oil has reported the total exports and revenues for the mon...

Monaco >>  7/1/2022 - Costamare Inc. has declared cash dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock (the “Seri...
Monaco >>  7/1/2022 - Eneti Inc. announced that Scorpio Holdings Limited (“SHL”), a related party, has purchased 288,697 common shares of the Company at an average price of...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.